There are so many ways to bet on horse racing, and this leads to an interesting number of strategies for those that follow the action closely.
However, while newcomers to the sport opt to wager on the win, place and show markets, there has been found to be additional value in playing across-the-board.
So, what is this type of bet and is it a solid strategy for long-term gambling on the sport?
What Is An Across-The-Board Bet?
The across-the-board bet is a fairly sound betting strategy if you are committed to one horse in a specific race.
Instead of placing a $10 wager on the selection to just win, you will also place the same stake on the selection to place and show.
Therefore, this makes the bet a $30 wager, but it can return good amounts if the selection wins, as you will get paid out on all three markets.
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However, it does also add a layer of insurance, as you will also get returns if the selection finishes second or third.
If the selection finishes second, then you will get the place and show returns, while the win wager will be lost.
Meanwhile, if the selection finishes third, then you will get paid out in the show wager but not the win or place.
Does It Always Return?
Across-the-board betting does increase your chances of returning money from selections, but there is the added risk that your selection may not finish in the first three.
This is especially the case when placing wagers on races with bigger fields, such as the Kentucky Derby.
In fact, if you place this wager across every race on a given day, you could in fact end the day down despite winning on every bet.
That is due to the returns of the show bet being much lower, meaning that if you place $30 wagers across-the-board on all six races on a card, but all six selections finish third, then it’s highly likely that the money won would still be lower than the stake that you have wagered.
The odds would be the deciding difference, as this would especially be the case if you have bet on all favorites throughout the day.
Across-The-Board Strategy
Because of the quirk that you may end up losing money using this strategy, many bettors adopt a ladder format that is built to ensure that they can win more than they lose.
This strategy works slightly differently to the across-the-board, as the stake wagered will differ on the three different markets.
For example, a bettor may have $45 to play with per race, and $5 of the stake would go on the win market.
A bettor would then place $15 on the selection to place and $25 on the same horse to show.
This is a solid long-term strategy to ensure that you don’t end the day down when betting on this market, as you could stand to win a decent amount even if a favorite finishes their race in third.
Is It A Good Strategy?
Across-the-board betting can be a solid strategy depending on the horse that you are selecting.
If you’re looking a second or third favourite or higher, then it could be rewarding even if your selection finishes second.
However, if you are betting on short-priced favourites, then it can be extremely tricky.
For example, if you bet across-the-board on a 4/5 shot, then you could stand to win just $8.30 from a $6 stake.
If the selection finishes second, then you would be paid out at $4.70 from the stake, meaning a loss of $1.30.